Dublin, July 20, 2021 (GLOBE NEWSWIRE) – ResearchAndMarkets.com has added the “Transmission and Distribution Equipment-Global Market Track and Analysis” report to the products.
During the COVID-19 crisis, the global power transmission and distribution equipment market is estimated to be USD 256.5 billion in 2020, and the revised scale is expected to reach USD 312.8 billion by 2026, a period of growth at a compound annual growth rate of 4.8% in the analysis.
Wire and cable is one of the market segments analyzed in the report, and is expected to grow at a compound annual growth rate of 4.7% by the end of the analysis period, reaching 117.7 billion US dollars. After a thorough analysis of the business impact of the pandemic and the economic crisis it triggered, the growth of the switchgear division was re-adjusted to a revised compound annual growth rate of 5.3% in the next 7 years. This segment currently accounts for 25% of the global power transmission and distribution equipment market.
The U.S. market is estimated at 65.8 billion U.S. dollars, while China is expected to reach 63.7 billion U.S. dollars by 2026
Transformers can be integrated in compact substations or stand-alone; pad, platform, grounding, pole-mounted installation, and should exhibit high performance in thermal, magnetic and electrical aspects. The design of the transformer needs to make it easy to handle, install, lift and transport. By 2021, the US power transmission and distribution equipment market is expected to reach 65.8 billion U.S. dollars.
The country’s current share of the global market is 26.99%. China is the second largest economy in the world, and the market size is expected to reach 63.7 billion U.S. dollars by 2026, with a compound annual growth rate of 7.7% during the entire analysis period. Other notable geographic markets include Japan and Canada, which are expected to grow by 2.7% and 3.8%, respectively, during the analysis period. In Europe, Germany is expected to grow at a compound annual growth rate of approximately 3.4%, while other European markets (as defined in the study) will reach $74.6 billion by the end of the analysis period. The main developments of power transmission and distribution (T&D) systems around the world include the electrification of transportation and heating to reduce carbon emissions in the long term; decentralization through distributed power generation, storage and demand response; and integration of smart sensors, smart meters, connected devices, and the Internet of Things (IoT) and other digital network technology systems and solutions to achieve digitization.
The future power grid and transmission and distribution network will become smarter, more decentralized and more interconnected. In addition to achieving more control, real-time optimization of consumption and production, fewer carbon emissions, more choices, and seamless interaction with customers , Always-on connection, greater transparency, better reliability and security, and other benefits.
In the global transformer field, the United States, Canada, Japan, China and Europe will drive an estimated compound annual growth rate of 5.4% in this field. By 2020, the total market size of these regional markets will reach 33 billion U.S. dollars, and by the end of the analysis period, the total market size is expected to reach 47.6 billion U.S. dollars.
China will remain one of the fastest growing countries in this regional market cluster. Driven by countries such as Australia, India, and South Korea, the Asia-Pacific market is expected to reach US$7.7 billion by 2026, while Latin America will grow at a CAGR of 6.2% during the analysis period.
Post time: Aug-16-2021
